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CONGRESSIONAL DISTRICT 4

HomeToOwn Program Activity (Red)

Development Finance Program Activity (Black)

FY 2001 through FY 2004

Ashley
Bradley
Calhoun
Chicot
Clark
Cleveland
Columbia
Dallas
Desha
Drew
Garland
Grant
Hempstead
Hot Spring
Howard
Jefferson
Lafayette
Lincoln
Little River
Miller
Montgomery
Nevada
Ouachita
Pike
Sevier
Union

ANNUAL REPORT OF PROGRAM ACTIVITY

FISCAL YEAR 2004: July 1, 2003 – June 30, 2004

See “Statewide” Section for list of FY 2004 Bond Issuances

CONGRESSIONAL DISTRICT 4

HOMEOWNERSHIP

Counties: Ashley, Bradley, Calhoun, Chicot, Clark, Cleveland, Columbia, Dallas, Desha, Drew, Garland, Grant, Hempstead, Hot Spring, Howard, Jefferson, Lafayette, Lincoln, Little River, Logan, Miller, Montgomery, Nevada, Ouachita, Pike, Polk, Scott, Sevier and Union

HOME-TO-OWN PROGRAM

Participating Lenders Located in Congressional District 4

ORIGINATOR	COUNTY	CONG DIST	PHONE NUMBER	WEB SITE
First State Bank, Warren, AR	Bradley	4	870.226.2601	www.firststatewarren.com
Elk Horn Bank and Trust, Arkadelphia, AR	Clark	4	870.246.0618	www.ehbt.com
Summit Bank, Inc., Arkadelphia, AR	Clark	4	870.230.1100	www.summitbankdirect.com
BancorpSouth, Magnolia, AR	Columbia	4	870.234.1234
Heartland Community Bank, Fordyce, AR	Dallas	4	870.352.3101	www.heartlandbankonline.com
Heartland Community Bank, Monticello, AR	Drew	4	870.367.5334
Alliance Bank of Hot Springs, Hot Springs, AR	Garland	4	501.318.1017	www.alliancebank.net
Bank of America, Hot Springs, AR	Garland	4	501.321.8288	www.bankofamerica.com
Summit Bank, Inc., Hot Springs, AR	Garland	4	501.525.8653
Superior Federal Bank, FSB, Hot Springs, AR	Garland	4	501.623.4585	www.superiorfederal.com
US Bank Home Mortgage, Hot Springs Village, AR	Garland	4	501.915.9133
US Bank Home Mortgage, Hot Springs, AR	Garland	4	501.321.5070
Heartland Community Bank, Sheridan, AR	Grant	4	870.942.8844	www.heartlandbankonline.com
Malvern National Bank, Malvern, AR	Hot Spring	4	501.332.6955	www.onemoneyplace.com
Citizens National Bank, Nashville, AR	Howard	4	870.845.3323
Lenders Mortgage Co. Inc., Pine Bluff, AR	Jefferson	4	870.541.9433
Simmons First National Bank, Pine Bluff, AR	Jefferson	4	870.541.1469	www.simmonsfirst.com
First Western Mortgage, Inc., Booneville, AR	Logan	4	479.675.3895	www.firstwesternbank.net
The First National Bank of Paris, Booneville, AR	Logan	4	479.675.7070	www.firstparis.net/
The First National Bank of Paris, Paris, AR	Logan	4	479.963.6319	www.firstparis.net/
The First National Bank of Paris, Ratcliff, AR	Logan	4	479.635.4111	www.firstparis.net
Regions Mortgage, Inc., Texarkana, TX	Miller	4	903.832.2551	www.regions.com
Farmers Bank & Trust, Camden, AR	Ouachita	4	870.836.5701
Heartland Community Bank, Camden, AR	Ouachita	4	870.836.6841	www.heartlandbankonline.com
First State Bank, DeQueen, AR	Sevier	4	870.642.4423
BancorpSouth, El Dorado, AR	Union	4	870.863.3181	www.bancorpsouthonline.com
First Financial Bank, El Dorado, AR	Union	4	870.863.7000	www.ffb1.com

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
*111*	*$6,601,212.00*	*$59,470.38*	*$57,049.00*

Loans by Originator

Originator/Branch	No. Loans	Dollar Amount
*1^st National Bank, Paris, AR*	17	*$1,033,190.00*
*Arvest Mortgage Company, Lowell, AR*	3	*$155,915.00*
*Bank of Dardanelle, Russellville, AR*	1	*$75,098.00*
*First Western Mortgage, Inc., Booneville, AR*	9	*$548,000.00*
*Metropolitan National Bank, Little Rock, AR*	2	*$164,075.00*
*Pulaski Mortgage Company, Little Rock, AR*	2	*$126,042.00*
*Regions Mortgage, Inc., Little Rock, AR*	2	*$119,018.00*
*Simmons First National Bank, Pine Bluff, AR*	67	*$3,798,474.00*
*Summit Bank, Inc., Arkadelphia, AR*	7	*$549,350.00*
*Superior Federal Bank, Little Rock, AR*	1	*$32,050.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	*107*	*$6,295,262.00*
New or Proposed Construction	4	*$305,950.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	53	*$3,381,088.00*	*47.7%*
Minorities	58	*$3,220,124.00*	*52.3%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$35,203.94*	*$35,988.00*
Minorities	*$33,843.28*	*$33,000.00*

Average Household Size:	*2.6*

Loan Cancellation Rate:	*9.0%*

DOWN PAYMENT ASSISTANCE PROGRAM

Current Participating Homebuyer Counselors in Cong. District 4

HOMEBUYER COUNSELOR	COUNTY	CONG DIST	PHONE NUMBER	WEBSITE
South Arkansas Community Development, Arkadelphia, AR	Clark	4	870.230.1717	www.arcommunity.com/sacd_001.htm
Community Service Office, Inc., Hot Springs, AR	Garland	4	501.624.5724
Central Arkansas Development Council, Malvern, AR	Hot Spring	4	501.315.1121	www.cadconline.net
Dream Makers Housing Counseling Agency, Inc., Pine Bluff, AR	Jefferson	4	501.225.4328
Southwest Arkansas Development Council, Inc., Texarkana, AR	Miller	4	870.773.5504

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
59	*$160,370.00*	*$2,718.14*	*53.2%*

Loans by Homebuyer Counselor

HOMEBUYER COUNSELOR	NO. LOANS	DOLLAR AMOUNT
*Argenta Neighborworks Homeownership Center*	2	*$6,000.00*
*ARVAC, Inc.*	1	*$2,900.00*
*Community Resource Tech*	1	*$3,000.00*
*Crawford-Sebastian Community Development Council, Inc.*	1	*$3,000.00*
*Dream Makers Housing Counseling Agency, Inc.*	47	*$125,695.00*
*In Affordable Housing*	4	*$11,075.00*
*South Arkansas Community Development*	2	*$5,700.00*
*Universal Housing Development Corporation*	1	*$3,000.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	58	*$157,470.00*
New or Proposed Construction	1	*$2,900.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	22	*$61,950.00*	*37.3%*
Minorities	37	*$98,420.00*	*62.7%*

Loan Cancellation Rate: 7.8%

TOTAL HOMEOWNERSHIP FY 2004: $6,761,582.00

Total Economic Impact

Local Jobs Supported: 13

Local Business Owner’s Income: $104,720.00

Local Wages & Salaries: $470,920.00

Local Government Revenue: $74,280.00

TOTAL MONETARY IMPACT: $649,920.00

HOUSING PRODUCTION

Affordable Housing Partners Serving Congressional District 4

ARC of Arkansas, Little Rock, AR

Bradley Housing Authority, Warren, AR

City of Murfreesboro, AR

City of Warren

DCP Development, Dumas, AR

Family Service Agency, Inc., North Little Rock, AR

Health Resources of Arkansas, Inc., Batesville, AR

Leisure Homes, Mountain Home, AR

Reed HOR

South Arkansas Community Development

Southland Properties, Inc., Dumas, AR

Spa Area Independent Living Services

Sunbelt Development Corporation, Little Rock, AR

Sunbelt Housing Corporation, Little Rock, AR

Watson HOR

Zimmerman Properties, Springfield, MO

HOME Allocations / Board Approvals FY 2004

Program Statistics

	No. Units	HOME Funds
Rental New Construction	36	*$824,000.00*
Rental Rehab	0	*$0.00*
Homeowner New Construction	5	*$325,000.00*
Homeowner Rehab or Mortgage Subsidy	17	*$907,500.00*
Tenant Based Rental Assistance	*Tenants -42*	*$111,600.00*
Acq / Rehab	36	*$350,000.00*
TOTAL	Tenants – 42 *Units –94*	*$2,518,100.00*
Average Amount per Unit		*Tenants - $2,657.14* *Units - $25,601.06*

Disbursements of FY04’s & Previous Years’ HOME Allocations/Approvals and
FY2004 Low-Income Tax Credits

	No. Units	Tax-Exempt Bonds	Low Income Hsng Tax Credits	HOME Funds	Total
Rental New Construction	*117*	*$0.00*	*$544,920.00*	*$350,000.00*	*$894,920.00*
Rental Rehab	1	*$0.00*	*$0.00*	*$65,000.00*	*$65,000.00*
Homeowner New Construction	0	*$0.00*	*$0.00*	*$0.00*	*$0.00*
Homeowner Rehab or Mortgage Subsidy	28	*$0.00*	*$0.00*	*$1,329,117.00*	*$1,329,117.00*
Tenant Based Rental Assistance	0	*$0.00*	*$0.00*	*$0.00*	*$0.00*
Acq / Rehab	*209*	*$0.00*	*$615,273.00*	*$855,711.00*	*$1,470,984.00*
TOTAL	*355*	*$0.00*	*$1,160,193.00*	*$2,599,828.00*	*$3,760,021.00*
Average Amount per Unit					*$10,591.61*

TOTAL HOUSING PRODUCTION FY 2004: $3,760,021,00

Total Economic Impact

Local Jobs Supported: 186

Local Business Owner’s Income: $1,722,240.00

Local Wages & Salaries: $7,036,380.00

Local Government Revenue: $1,186,380.00

TOTAL MONETARY IMPACT: $9,945,000.00

DEVELOPMENT FINANCE

Capital Access Participating Lenders Located in Cong. District 4

None

Program Statistics

Program	No. Projects	Project Amount	Average Project Amount
ADFA Bond Guaranty	0	*$0.00*	*$0.00*
AEDC/Other Bond Guaranty	0	*$0.00*	*$0.00*
Higher Education Facilities	0	*$0.00*	*$0.00*
Wastewater Revolving Loan	1	*$5,500,000.00*	*$5,500,000.00*
Safe Drinking Water Revolving Loan	3	*$15,760,363.00*	*$5,253,454.33*
ADFA-Originated Loans	0	*$0.00*	*$0.00*
Bond Guaranty Reserve Fund	0	*$0.00*	*$0.00*
Capital Access Program	4	*$343,718.00*	*$85,929.50*
Disadvantaged Business Enterprise	0	*$0.00*	*$0.00*
Beginning Farmer	0	*$0.00*	*$0.00*
Governmental Conduits	2	*$39,800,000.00*	*$19,900,000.00*
Special Projects Fund	2	*$9,687,025.00*	*$4,843,512.50*

TOTAL DEVELOPMENT FINANCE FY 2004: $71,091,106.00

TOTAL FUNDS FOR CONG. DISTRICT 4 FY 2004

$81,612,709.00

Distribution of these total funds
Homeownership	*$6,761,582.00*
Housing Production	*$3,760,021.00*
Development Finance	*$71,091,106.00*